December 29, 2016 archive

Oklahoma City-based Gulfport Energy Corporation announced Thursday that Keri Crowell has been appointed to the position of Chief Financial Officer effective January 4, 2017, according to a company press release. Crowell replaces Aaron Gaydosik, who is resigning to pursue an outside business opportunity. “Keri has been a key contributor to Gulfport’s success during her 11-year …

Oil futures dropped on Thursday after several reports revealed data that showed a rise in domestic crude oil inventories, according to Bloomberg MarketWatch. On the New York Mercantile Exchange, February West Texas Intermediate crude oil fell 29 cents, or 0.6%, to end at $53.77 a barrel. The contract traded as high as $54.21 a barrel …

A $1.24 billion sale of assets in the Marcellus Shale has been announced by Anadarko Petroleum Corporation. It’s agreed to sell its operated and non-operated upstream assets and operated midstream assets in north-central Pennsylvania to Alta Marcell Development, LLC, a wholly-owned subsidiary of Alta Resources Development LLC. The divestiture includes nearly 195,000 net acres with …

Another down week for the nation’s ethanol production. The Energy Information Administration says it was down about 8,000 barrels a day from the previous week. Production averaged 1.028 million barrels a day which translates into 43.18 million gallons daily. However, the four-week average for ethanol production was an all-time high of 1.032 million barrels a …

More oil and gas wells are reported being completed and producing in Oklahoma’s popular and oil-rich STACK play. As indicated on the completion reports published this week by OK Energy Today, producers were reported by Continental Resources, Devon Energy and Houston, Texas based Oklahoma Energy Acquisitions LP. Most of the STACK wells came in with production …

Six Democrats on the U.S. Senate Environment and Public Works Committee chaired by Oklahoma U.S. Sen. Jim Inhofe are going after Attorney General Scott Pruitt for his role in leading a nonprofit group that received money from an arm of the Koch brothers’ network. But they are also being called hypocrites from at least one …

Oklahoma’s oil and gas industry won’t like what former longtime state legislator Jerry Ellis of Valliant is suggesting. A cut in exemptions for the industry. Speaking out this week on the state’s budget crisis, the former Democratic Representative and Senator said it should be considered among the actions to be taken by the legislature …

Contributing to a fourth consecutive increase, crude oil futures rose on Wednesday as traders remained optimistic while awaiting weekly data on inventories, according to Bloomberg MarketWatch. On the New York Mercantile Exchange, light, sweet crude futures for delivery in February tacked on 16 cents a barrel, or 0.3%, to finish at $54.06 a barrel—their highest close …